Post Utme Bells University 2022 Economics Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Bells University Economics examination.

Post Utme Bells University 2022 Economics Objective / Multiple Choice

Question 24 POST_UTME_BELLS_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's demand function is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply function is given by Qs = 2P - 10, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = $20, Q = 30

B. P = $30, Q = 40

C. P = $40, Q = 50

D. P = $50, Q = 60

Correct Answer

Correct Option:

P = $20, Q = 30

About This Question

This is Post Utme Bells University 2022 Economics Question 24. It is one of the objective questions from the 2022 Post Utme Bells University Economics examination.

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